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Based on the Diagram Below It Can Be Inferred That

Question 42

Multiple Choice

Based on the diagram below it can be inferred that: Based on the diagram below it can be inferred that:   A)  hot dogs are a normal good for all levels of income. B)  hot dogs are an inferior good, but not a Giffen good, for all levels of income. C)  hot dogs are a Giffen good for all levels of income. D)  hot dogs are an inferior good for low levels of income, but at higher levels of income become a normal good. E)  none of the above


A) hot dogs are a normal good for all levels of income.
B) hot dogs are an inferior good, but not a Giffen good, for all levels of income.
C) hot dogs are a Giffen good for all levels of income.
D) hot dogs are an inferior good for low levels of income, but at higher levels of income become a normal good.
E) none of the above

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